- Vietnam rewards platform Got It grew 2022 revenue by 27% to $6.3M.
- It operates a B2B model with over 3,000 brand partners.
- For 2023, Got It invests in AI capabilities and a Zalo mini-app.
Strong growth in 2022
Vietnam’s gifting and rewards platform, Got It, continues to grow strongly, powered by the country’s expanding middle-class consumer spending.
According to recently released financial statements, Got It generated close to $6.3 million in revenue in 2022, a 26.8% year-over-year increase. Profits also grew nearly 3 times from 2021 to 2023.
“Cash flow is very healthy, as is cash on hand,” said Got It founder and CEO Bruce Moulin in an interview.
The company operates on a B2B model, with over 3,000 brand partners, including Procter & Gamble, KFC, and Starbucks.
Corporations use Got It’s digital gift cards and vouchers for HR incentives and customer promotions.
A key driver has been Got It’s large and growing network of merchant partners, allowing it to issue over 1 million vouchers per month.
B2B model and brand partnerships
Got It invested heavily in 2023 in AI capabilities to support new peer-to-peer functionality planned for launch this year.
This includes refinement of its Scan It receipt scanning feature to instantly reward customers and a partnership with the leading Vietnamese messaging platform Zalo.
The 73+ million user Zalo mini-app integration later this year may significantly expand Got It’s reach.
AI investment and expansion plans
Moulin said staying profitable while investing for growth was pleasing.
With a first-mover advantage, and new capabilities launching in 2023, Got It seems poised for continued success capitalizing on Vietnam’s hot consumer economy.
